The Weekly Review is a weekly blockchain industry summary program that covers key news, market and contract data, mining information, project updates, technological advancements, and other industry developments. This article is the Project Weekly, giving you an overview of mainstream projects and star projects’ progress this week.
Bitcoin
Brazil’s digital bank Nubank to integrate Bitcoin Lightning Network
According to Bitcoin Magazine, Brazil’s largest digital bank, Nubank, is set to integrate the Bitcoin Lightning Network, with approximately 100 million customers.
Barstool Sports founder: Will purchase $10 million worth of Bitcoin if price hits $40,000
Barstool Sports founder Dave Portnoy stated on social media that he would use Barstool’s funds to buy $5-10 million worth of Bitcoin if the price hits $40,000, but not if it reaches $60,000. He added that he already holds a significant amount of personal Bitcoin.
Analysis: Inflation cooling and stock market rally cause Bitcoin price stagnation
Despite inflation easing as expected and stock indices rising, Bitcoin remains stagnant. Following the release of the Personal Consumption Expenditures (PCE) price index data, stock markets saw marginal increases, while Bitcoin dipped below $61,000. Market participants are closely monitoring inflation data to predict when the Federal Reserve might start easing, which is generally seen as favorable for riskier long-term investment portfolios. Bitfinex analysts noted uncertainty and volatility in the Bitcoin and broader cryptocurrency market since the US presidential debates between Donald Trump and Joe Biden.
Bolivia lifts ban on Bitcoin and crypto payments
Bolivia lifted the ban on Bitcoin and crypto payments, formally legalizing them for financial entities.
JPMorgan: Bitcoin mining sector attracting investor interest
JPMorgan stated in a research report on Monday that the Bitcoin mining sector is attracting investor interest, with a 22% increase in market cap among the 14 miners it tracks since Core Scientific and AI company CoreWeave struck a deal.
Analysts Reginald Smith and Charles Pearce mentioned the potential value of mining facilities and scarcity of power access, indicating a diversification into high-performance computing (HPC) projects.
Ethereum
SEC Chairman: Ethereum ETF approval process progressing smoothly
SEC Chairman Gary Gensler reiterated in a speech today that there are significant violations in the cryptocurrency space, while mentioning the seamless progress in approving an Ethereum ETF. However, he declined to comment on the timetable for launching a spot Ethereum ETF.
Ethere